GLOBAL PROTEIN SEQUENCING MARKET FORECAST 2020-2028

GLOBAL PROTEIN SEQUENCING MARKET FORECAST 2020-2028

According to Inkwood Research, the global protein sequencing market is projected to record a CAGR of 6.47% during the forecast period and will reach revenue of $8.98 billion by 2028. The base year considered for the market study is 2019 and the forecasted period is between 2020 and 2028. Rising demand for drug development is fueling the demand for the protein sequencing market. A target is generally a molecular mechanism toward disease prediction. These drugs frequently control the working of the protein.

According to Inkwood Research, the global protein sequencing market is projected to record a CAGR of 6.47% during the forecast period and will reach revenue of $8.98 billion by 2028. The base year considered for the market study is 2019 and the forecasted period is between 2020 and 2028.

The global protein sequencing market growth is augmented by the following factors:

Growing focus on target-based drug development

Developments in mass spectrometry and analytical techniques

Advances in computational proteomics

Rising demand for drug development is fueling the demand for the protein sequencing market. A target is generally a molecular mechanism toward disease prediction. These drugs frequently control the working of the protein. Over the past few years, an increasing number of innovations based on proteomics have fueled innovative drug development. Further, several medications have been developed with a stress on a single protein source. Also, Technical improvements in mass spectrometer is a major factor fueling the growth of the market. A rise in funding activities for proteomics research in numerous developing and developed regions is a prime aspect of boosting the market.

Edman degradation segment is the fastest-growing category in the instruments segment. Edman degradation is a sensitive, and simple way to infer the location of phosphoamino acids in an isolated phosphopeptide. Edman degradation is an important technique in protein sequence analysis. It includes step by step hydrolysis of peptides with phenyl isothiocyanate, beginning at the N-terminus of the polypeptide. Moreover, the mass spectrometry segment is anticipated to grow at the CAGR of around 6.16% during the forecast period. Mass spectrometry has emerged as a boon for protein sequencing in lesser time. This is majorly attributed to the instrumental advances that permit monotonous analysis of minute peptides in complex mixes, with the rapid growth in genomic databanks that are fostering the market growth.

However, a shortage of trained researchers and laboratory professionals is restraining the growth of the protein sequencing market. The field of proteomics has rapidly advanced in recent years in techniques of protein production, crystal growth, and structure determination. Moreover, the complete process needs to be performed by expert professionals due to the complex operations involved in sequencing techniques.

The report scope of the global protein sequencing market covers segmentation analysis of product and service, and technology and application.

Market by Product and Service:

Reagents and Consumables

Instruments

Edman degradation

Mass Spectrometry

Analysis Product

Protein Sequencing Services

Market by Technology:

Mass spectrometry

Edman Degradation

Market by Application:

Academia

Biopharmaceuticals

Biotechnology Research

Geographically, the global protein sequencing market has been segmented into four major regions which include:

Geographically, North America is the largest market with a market share of 39.72% in terms of revenue in 2019. The region is projected to grow at a steady pace during the forecast period. This is majorly due to a rise in the availability, and accessibility of protein sequencing and well-established healthcare infrastructure. Moreover, this region also has the presence of many local and regional vendors that are gradually marking a position in this market. For instance, the U.S. based Swift Biosciences is a biotechnology research company that specializes in manufacturing kits and reagents employed in sample preparation for NGS.

On the other hand, Asia Pacific accounts for the fastest-growing region with a CAGR of 7.77% in the forecast period. Asia Pacific owns a high market perspective for the growth of the market due to a rise in demand for drug discovery and an increase in focus on the biotechnology industry. In addition, a surge in the use of sequencing methods has led to rapid developments in the market. Moreover, research, innovation, and development related to proteomics and genomics are engulfing the Asia Pacific region.

The leading players in the global protein sequencing market include:

Shimadzu Corporation

Agilent Technologies Inc

Water Corporation

Others

In November 2019, Thermofisher launched its Ion Torrent Genexus System, the first fully integrated, next-generation sequencing (NGS) platform that features an automated specimen-to-report workflow, which delivers results economically in a single day.

Key findings of the global protein sequencing market are:

North America leads the global protein sequencing market by capturing the largest market share of around 39.72 % in 2019.

Asia Pacific protein sequencing market is anticipated to grow at the highest CAGR of 7.77% during the forecast period of 2020-2028.